MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  January 21, 2016 (REPORT 3)                        

OCEANIA                                                          
INFORMATION GATHERED  01/11/2016 - 01/22/2016                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:    

Butter prices in Oceania declined at the top of the price range. 
Competition in export markets is a significant factor in trimming higher 
butter prices. Additionally, this is historically a time when butter 
demand is weaker. Butter prices in the latest GDT event realized the 
second greatest overall percentage decline, also reflecting these factors. 
March butter contracts had a 14.3% price decline while subsequent 
contracts had some upside.                                                      
                                                      
                                                                 
82% BUTTERFAT:                           2,900 - 3,150           


0930c Eric.Graf@ams.usda.gov 608.557.7005
USDA/AMS/Dairy Market News, Madison, Wisconsin
Dairy Market News website: http://www.ams.usda.gov/market-news/dairy
Dairy Market News database portal: 
http://www.marketnews.usda.gov/mnp/da-home